Vend grabs $13m for retail-focused POS

Point of sale (POS) and retail management software provider Vend has picked up $13m in a Series D round.

The funding was led by Wellington, New Zealand-based investor Movac with Square Peg Capital and Valar Ventures as well as individual backers also participating.

Auckland-based Vend develops retail software to enable merchants to accept payments in-store and online, manage inventory, reward customer loyalty and report on their business in real time.

The software integrates into other business tools such as Xero for accounting, Deputy for employee scheduling and Timely for appointment booking.

It is also partnered with payment providers including PayPal, and iZettle.

Launched in 2010n the company claims its technology is now used in more than 18,000 stores across 140 countries.

Vend will use the new capital to continue product development and expansion.

Currently established across Australia and the US, the company recently bolstered its team in the UK to 20 staff at its new London office.

The investment reportedly values Vend at $138m.

Movac partner Mark Stuart will join Vend’s board as a result of the deal.

Copyright © 2016 FINTECH GLOBAL

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